XRP retreated after a brief midweek rally, as broader crypto markets weakened on bitcoin-led profit-taking and a delay in a key ETF launch dampened near-term sentiment.
The token rose earlier on Wednesday but failed to hold gains as bitcoin pulled back after approaching $80,000 during Asian trading hours on Thursday. Selling pressure emerged near resistance, signaling that the market still lacks the conviction needed for a sustained breakout.
Adding to the cautious tone, GraniteShares postponed the launch of its 3x leveraged crypto ETFs—including XRP-linked products—to May 7. The delay removes a short-term catalyst that could have fueled speculative interest. Once live, the products are expected to offer both long and short exposure, amplifying daily price swings and potentially increasing volatility, particularly among retail traders.
Technically, XRP tested resistance near $1.44 before reversing and slipping back toward the $1.42 area. The failure to hold above this level reinforces the current range-bound structure, with sellers regaining control into the close.
Although trading volume increased during the attempted breakout, it lacked the follow-through needed to confirm a sustained move higher. The rejection at resistance remains the key signal, suggesting buyers were unable to maintain momentum.
For now, XRP continues to trade within its established range. A decisive break above $1.44 is needed to shift the broader trend, while $1.40 serves as immediate support. A move below that level could open the door to further downside, with the token at risk of revisiting the lower end of its range if weakness persists.
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